PA Financial Advisor Austin Dutton – 4 Pending Customer Complaints
According to an article in the Philadelphia Inquirer, three retired Philadelphia police officers and a firefighter have filed complaints with the Financial Industry Regulatory Authority (FINRA) against Newbridge Securities for unsuitable investments.
The clients allege that their financial advisor, Austin Dutton of Doylestown, did not properly warn them of the risks involved with the recommended investments.
According to his BrokerCheck report, Austin Dutton was registered with Newbridge Securities in Doylestown, PA from 2007 until August 2017.
Last summer we told you about Pennslvania’s largest broker related fines in the history of the Pennsylvania Department of Banking and Securities, involving Newbridge Securities and Austin Dutton.
FINRA has posted four complaints against Newbridge in November and December 2017, alleging losses totaling over $750,000. In each case the unnamed investors said they were sold “unsuitable securities” and were not properly informed of the risks.
Failure to Supervise
Brokerage firms are required to adequately supervise their agents to ensure they are complying with FINRA rules. They may be held responsible for any losses in a FINRA arbitration claim if it is determined that they failed to properly supervise their agent.
FINRA operates the largest securities dispute resolution forum in the United States, and has extensive experience in providing a fair, efficient and effective venue to handle a securities-related dispute.
If you suffered losses investing with Austin R. Dutton or Newbridge Securities, the attorneys at The White Law Group may be able to help you recover your losses. For a free consultation with a securities attorney, please call (888) 637-5510.
The foregoing information, which is all publicly available on FINRA’s website, is being provided by The White Law Group. The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For more information please visit www.whitesecuritieslaw.com.